Market Information Tuesday 08 September 2026

Japan’s foreign reserves fell approximately 6.2% in August to $1.207 trillion, down from $1.287 trillion in July, marking the sharpest decline since records began in 2000. The drop stems from yen-buying interventions and falling bond values amid rising global yields. Tokyo has spent a record 27.1 trillion yen on interventions this year, including a coordinated move with the US in July. The yen has since recovered from a 40-year low of 163.98 to 155.98 per dollar.

German industrial production unexpectedly fell 1.1% in July, missing forecasts of a 0.1% rise, driven mainly by a 9.2% drop in automotive output due to production shutdowns. Energy production rose 4.7% on strong wind and solar generation. While industrial orders climbed 2.5% in July, economists do not expect this to lift output before the fourth quarter. Production was 1.6% lower year-on-year, signalling downside risks to third-quarter German gross domestic product (GDP) growth.

Chinese exports rose 25% year-on-year in August, driven by strong growth in high-tech products, cars and AI-related goods. Imports also grew, by over 28%, but the trade surplus still climbed to 119.1 billion dollars, one of the highest levels ever. The European Union (EU) has voiced concern over the rising surplus and plans to negotiate with China this month, while trade tensions with the United States (US) continue ahead of a planned meeting between Xi Jinping and Donald Trump.

The 6M Euribor is unchanged at 2.79% compared to previous business day. The 10Y Swap increased with 6 basis points to 3.42% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.